Fiat Chrysler proposes merger with Renault

A separate source with direct knowledge of the situation confirmed that the Renault board will meet on Monday morning at 0800 local time (0600 GMT) to discuss the issue.

Fiat Chrysler said the merger would create the world's third largest automaker, with annual sales of 8.7 million vehicles.

The proposed deal would merge the two carmakers under a listed Dutch holding company. After a 2.5 billion euro dividend paid to existing FCA shareholders, investors in each company would receive half of the new entity.

Industry shifts toward electric models, along with stricter emissions standards and the development of new technologies for autonomous vehicles, have put increasing pressure on carmakers to consolidate.

The Renault-Nissan partnership, underpinned by cross shareholdings, has been strained by the scandal surrounding former Chairman Carlos Ghosn, who was ousted after his arrest a year ago.

A report over the weekend surfaced indicating that FCA and Renault have been in talks for a tie-up of their operations "that could include joining large portions of their businesses".

Any tie-up would likely face political and workforce hurdles, particularly in Italy.

Renault and FiatChrysler estimate cost savings of more than €5 million (¥613 million) as a result of their deal, and an additional €1 million in savings for alliance partners Nissan and Mitsubishi Motors.

Such a merger would show "our capacity to respond to European and French sovereignty challenges in a globalised context", she said.

Early this year, rumours circulated that Renault was interested in Fiat-Chrysler after its hopes for a full merger with Nissan or even French competitor PSA were dashed.

The French government has a 15% stake in Renault and the carmaker's chairman, Jean-Dominique Senard, presented an FCA-Renault merger plan to French finance minister Bruno Le Maire on Friday, Les Echos reported.

Anticipating such sensitivities, FCA stressed "new opportunities for employees of both companies" under the merger.

"The benefits of the proposed transaction are not predicated on plant closures, but would be achieved through more capital efficient investment in common global vehicle platforms, architectures, powertrains and technologies", FCA says.

Sambit Patra loses to BJD’s Pinaki Mishra in Puri
The BJP and the Sena have retained their 2014 tallies of seats this time, with each party winning 23 and 18 seats, respectively. In the assembly polls in Odisha, Patnaik's BJD has won or is leading in 112 seats of the 147-member legislature. 5/27/2019

Art Briles Named Head Coach Of Texas High School Football Team
Briles interviewed for the offensive coordinator position at Southern Miss earlier this year, though did not receive the job. Many had to figure that Briles would never be coaching at the college or high school ranks in the state of Texas ever again. 5/27/2019

Naresh Goyal, wife taken off flight to Dubai
Indian judicial officials said that a lookout circular has been put out against the Jet Airways founders. It is not clear if this action was taken on specific request by any agency. 5/27/2019

UK's Brexit Party romping to European Union poll win
In the South East there are 10 seats. "There's nothing hypocritical in being a European but not believing in the EU", he said. The Brexit Party has won two of the three seats in the North East constituency in the European elections. 5/27/2019

NFL Quarterback Legend And Actor Was 85 — Bart Starr Dies
He had hoped to make one last trip to Green Bay to watch the Packers this fall, but he shall forever be there in spirit. The couple dealt with tragedy in 1988 when their son Brett died at 24 due to complications from cocaine addiction. 5/27/2019

Missing Hawaii hiker found alive after two weeks
They weren't even really looking for her per se, but ways to get dropped off near points of where they might pick up her trail. Barefoot and suffering a broken leg, Eller was spotted after she heard the chopper and frantically waved to the crew. 5/26/2019

Man Utd Treble Reunion match preview and how to watch the game
But very few predicted that Manchester United would be that team. "Easily forgotten what a world-class footballer he was". The ball in from the left was converted after Yorke found himself in acres of space in the area and he made no mistake. 5/26/2019

Jon Voight: Trump Is Greatest President Since Lincoln
The Academy Award-winning actor and star of Showtime's " Ray Donovan " posted his message as a video on Twitter Friday night. "Let us stand for this truth that President Trump is the greatest president since Abraham Lincoln ". 5/26/2019